Lake Hiawatha, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lake Hiawatha, NJ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lake Hiawatha Housing Market Information

With a population of 9,237, 1,883 total housing units (homes and apartments), and a median house value of $349,632, real estate costs in Lake Hiawatha are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Lake Hiawatha, accounting for 64.69% of the town's housing units. Other types of housing that are prevalent in Lake Hiawatha include large apartment complexes or high rise apartments ( 28.42%), duplexes, homes converted to apartments or other small apartment buildings ( 5.63%), and a few row houses and other attached homes ( 1.26%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Hiawatha. Owner-occupied housing accounts for 68.50% of Lake Hiawatha's homes, and 49.32% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lake Hiawatha's housing was primarily built during this period, from the '40s through the '60s. A full 58.63% of the town's housing hails from this era. Other housing ages represented in Lake Hiawatha include homes built between 1970-1999 ( 29.17%) and housing constructed before 1939 ( 8.62%). There's also some housing in Lake Hiawatha built between 2000 and later ( 3.58%).

Lake Hiawatha Home Appreciation Rates

Lake Hiawatha's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lake Hiawatha during the period has been just -1.76%, which is lower than 80% of US communities.

Over the last year, Lake Hiawatha appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Hiawatha's appreciation rate has been 2.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Hiawatha were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Lake Hiawatha's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$349,632

Lake Hiawatha, NJ HOME PRICES

Value Range
> $1,063,000 0.0
$797,001 - $1,063,000 1.0
$532,001 - $797,000 4.8
$425,001 - $532,000 11.2
$319,001 - $425,000 45.7
$212,001 - $319,000 29.0
$106,001 - $212,000 6.2
$53,001 - $106,000 0.0
$0 - $53,000 2.1

Average for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
12.21727411227 51.6260162601626

Number Of Homes And Apartments:
1,883

Lake Hiawatha Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
52.01% 2.46% 5 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,617 / per month

Homeownership Rate

Homeownership
Owners 68.50
Renters 31.50
Vacant 6.78

Housing Market Details

 

Age of Homes

AGE OF Lake Hiawatha HOMES
2000 or Newer 3.6
1970 - 1999 29.2
1940 - 1969 58.6
1939 or Older 8.6

Types of Homes

TYPE OF Lake Hiawatha HOMES
Single-Family 64.7
Townhomes 1.3
Small Apt. Buildings 5.6
Apt. Complexes 28.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Lake Hiawatha HOMES
No Bedroom 0.00
1 Bedroom 29.18
2 Bedrooms 19.29
3 Bedrooms 32.00
4 Bedrooms 17.32
5 or more bedrooms 2.21

Popular Neighborhoods in Lake Hiawatha

Zip Codes in Lake Hiawatha, NJ